Nutraceutical Startup Fitday to invest Rs60 crore to grow retail presence
The nutraceutical start-up, Fitday, is a one-stop retail and online destination for nutrition and wellness needs. It revealed its plans to invest ₹60 crore to grow its operations to different parts of the country over the next two years.
It intends to set up 50 brick-and-mortar stores across the country by 2023 while also scaling its online presence.
The Indian nutraceutical market is presumed to see a calculated growth of $18 billion by the end of 2025. To further magnify the advantage that they have already strategized towards, the startup is planning to grow its presence pan-India.
Suresh Raju, founder, Fitday.in said, “The food systems in many countries do not offer adequate nutrient outputs to fulfill the health and nutritional needs. Nearly half of the world’s population is malnourished.”
He added that with about 840 million people receiving inadequate intakes of protein/energy, and over two billion people having diets that are the same as 30 years ago, it is resulting in deficiencies in micronutrients.
Over 40% of the world’s population suffers from Micronutrient malnutrition.
Fitday says it has built an ecosystem combining research and development, products and services to ensure health and wellness for all, by providing several health and nutrition products, immunity boosters, and dietary supplements, among others, while catering to general health, pediatrics, sports nutrition, and geriatrics.
Suresh Raju remarks, “Fitday also offers fitness and nutrition consulting. We have a nutritionist at every store and also Body Mass Index (BMI) Machines at each store. We also offer the services of in-house panel dieticians at our headquarters, who will curate individualized diet charts and products.”
Founded in 2020, Fitday has expanded to 1,000 nutraceutical and wellness SKUs. The startup not only displays products manufactured by its parent Genomelabs but also global brands like Isopure, Nestlé, and Optimum Nutrition.
The Genomelabs products solely on the Fitday platform recorded INR 3 Crore in sales during the last fiscal year, the company said.
Fitday is empowering several people by providing the right nutritional knowledge and offering the right products. The freshly acquired funds will offer a great opportunity to the company to scale its operations.Shishir Gupta, Founder and CEO, StartupLanes
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For publishing an advertorial article about your company on our website, drop an email at email@example.com